Earlier today I posted about two events that took place this evening.
The first was a networking event at a rooftop bar/restaurant.
I was a bit uneasy about going to this event even though it was a stone's throw away from my office because I didn't know anyone going and I don't really like beer. Also, I am not certified to give advice on Israeli law yet and I am low on the foodchain. I thought about buying a drink to loosen up a bit but decided it wasn't worth the 20 NIS. I did see one fellow sitting alone and we chatted and it turns out he is a software developer with an idea (surprise.) While I didn't give him any legal counsel, we did talk business and exchanged contact info. So perhaps for that it was already worth it.
Then, Dov Moran, who apparently invented the USB drive, spoke to the crowd. The first thing he did, which was interesting, was to flip the talk around and ask anyone if they had any questions about entrepreneurship/startups before he gave a talk. He also told the listeners not to turn off their phones; "If an investor is calling, it's probably more important than what I am saying," he quipped. Someone asked him how you can get people you work with to give projects the effort that you know you would give to them. Dov answered that if you have that concern then you shouldn't be involved with that person. You should only get involved with people your trust. If you want guaranteed trust, go talk to the bank- that's their whole business. But when you are dealing with people, your team is only as good as the trust you have in them. He also mentioned that sometimes you might meet some entrepreneurs who have a product that does not impress you so much, but if the people impress you then it may be worth investing in them rather than the particular product. The product may change or the company may change focus, but sometimes the people are more important than the product. I think that idea is in the book From Good to Great. Jim Collins writes that its more important to have the right people on the bus than to know exactly where the bus is going. The final thing I heard Dov say before I left for the other event was in response to a question about how to enter a market that already has many players. He said that you don't necessarily need to be the first in the industry (e.g. Facebook v. MySpace) but you do need to be first in some area that only you do and no one else does. You need to bring some new angle to the existing products or do it better.
I then headed over to the Leonardo Plaza, a few minutes walk away for the crowd funding pitch for Sky Saver. I was late but I must say it was very interesting, although not for the reasons you might think.
